X1403 Entries of satisfaction and release.U.K.
(1)The registrar of companies, on receipt of a statutory declaration in the prescribed form verifying, with respect to a registered charge,—
(a)that the debt for which the charge was given has been paid or satisfied in whole or in part, or
(b)that part of the property or undertaking charged has been released from the charge or has ceased to form part of the company’s property or undertaking,
may enter on the register a memorandum of satisfaction in whole or in part, or of the fact that part of the property or undertaking has been released from the charge or has ceased to form part of the company’s property or undertaking (as the case may be).
(2)Where the registrar enters a memorandum of satisfaction in whole, he shall if required furnish the company with a copy of it.
Editorial Information
X1Ss. 395-424 are prospectively replaced by Companies Act 1989 (c. 40), Pt. IV (ss. 92-107) but, having regard to the lapse of time since those amending provisions were enacted without having been bought into force, they are not reproduced here